‘Nigeria needs strong management capacity for enterprise development’

Going by recent economic challenges confronting the nation and a bid to promote micro, small and medium economy, stakeholders, particularly in the financial and private sector development have stressed on the need for the country to develop its enterprise as way forward for the economy.

Converged at a day conference titled “Accelerating Enterprise Growth and Competitiveness in Nigeria- Building Capacity for sustainable Development”, held in Lagos, the stakeholders noted that the nation must concentrate on developing management capacity as well as expertise so as to harness opportunities across different sectors.
The experts said that the youth must be engaged meaningfully, particularly in Small and Medium Enterprises (SMEs), adding that challenges such as access to finance, shortage of skills, market access and enabling environment must be addressed

Speaking at the conference, Governor of the Central Bank of Nigeria Godwin Emefiele said that the crucial role that Nigerian enterprises play in the growth and sustenance of the Nigerian economy must not be underrated.

Represented by the Acting Director, Development Finance, Olaitan Adeola, said stakeholders must take active role in capacitating the private sector.

Emefiele said: “Promoting increased foreign direct investment and other capital inflows through policies that will attract foreign investors and strengthening the DFIs to promote affordable and long-term finance is required.”

Also speaking at the event, which was organised by African Management Services Company, (AMSCO), in collaboration with the National Planning Commission of Nigeria, (NPC) Executive Secretary of the NPC, Bassey Akpanyung emphasized that Nigeria is not unmindful of challenges in the Nigerian business environment, stating that the rate of economic growth and development of any nation is functionally related to its infrastructure.

“This informed the decision of Government to bring on board the 30 year National Master Plan in collaboration with the private sector aimed at addressing these gaps” he said.